This week’s newsletter highlights Mattel signing a multi-year partnership with an NFT marketplace, Mastercard plans to allow cardholders to purchase NFTs directly with their cards, and enabling NFT holders to earn millions of dollars through intellectual property rights to their NFTs.

Those who invest in NFTs can also learn more about the drop in the lower prices of notable groups like Bored Ape Yacht Club (BAYC) and CryptoPunks, while this week’s Nifty News report showcases Kraft Food’s patent filing and Seth Green meets BAYC NFT.

Barbie-verse: Mattel inks seal multi-year deal with Cryptoys NFT market
Mattel, a prominent gaming brand, has partnered with Cryptoys Marketplace NFT to showcase its brands like Barbie and Hot Wheels as playable NFTs within the metaverse. Richard Dixon, president of the games company, believes that there are opportunities for the brand within the metaverse space. The games will be featured on the Cryptoys metaverse created by OnChain Studios as well as in other games developed by the company.

In the summer of 2022, the studio will launch the Cryptoys NFT marketplace on top of the Flow blockchain. In the past, Mattel has also dipped its toes in the NFT space by securing a partnership with Wax blockchain in 2021 for the release of the Hot Wheels NFT suite.

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MasterCard allows 2.9 billion cardholders to make direct purchases using NFT
To purchase NFTs, note holders first need to convert their funds into crypto. Financial services firm Mastercard aims to change this by allowing its 2.9 billion cardholders to purchase NFTs directly without the hassle of buying cryptocurrency first.

The finance giant has partnered with several leading NFT marketplaces such as Immutable X, Candy Digital, The Sandbox, Mintable, Spring and NFT Gateway to integrate a payment method that allows users to purchase NFTs directly. Aside from the markets, Mastercard has also partnered with MoonPay, a provider of crypto services on and off the slopes.

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NFT holders can earn millions through intellectual property rights, says founder of Apocalyptic Apes
Cointelegraph interviewed Bill Starkoff, founder of Apocalyptic Apes and member of BAYC. According to Starkoff, there is a way to generate income using NFTs apart from flipping, rather than licensing intellectual property rights to NFTs.

Starkoff explained that BAYC holders are able to make profits by “licensing their monkeys for commercial use.” Similarly, the CEO of Apocalyptic Apes notes that other groups can also do this. Before that, Starkoff said people should first wait and wait for the project beyond the NFTs to mature.

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Related Topics: NFT Trading Volume Rise Amid Market Price Collapse, Ground

Popular NFT block price collapses due to bear market
Amid the current bear market, the floor prices of prominent NFT groups BAYC and CryptoPunks have fallen. BAYC has moved from an all-time high of 153.7 Ether (ETH) to 74 ETH. On the other hand, CryptoPunks has also fallen from its lowest price ATH from 123 ETH to 48 ETH, as seen on the NFT Price Floor tracking site.

The drop in NFT prices came amid a significant sell-off within the broader crypto market. Ahead of the price drop, Yuga Labs co-founder Gordon Gunner also warned of an upcoming attack on the company’s social media accounts.

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Nifty News: Kraft Foods files for NFT and patents the metaverse, Seth Green recovers his monkey and more
Large manufacturing group Kraft Foods recently filed for NFT and metaverse patents. The company has filed trademark applications for Kraft, Jell-O, Kool-Aid and other brands under its umbrella. Meanwhile, actor Seth Green received a BAYC NFT which was stolen and sold to someone else. The representative paid 165 ETH to buy back NFT.

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Thank you for reading this summary of the week’s highlights in the NFT space. Come back next Wednesday for more reports and insights into this actively developing space.

Source: CoinTelegraph